Cathay Capital to invest along with 3i to foster Ponroy’s international development   

May 4, 2020
Europe

Cathay Capital today announces that it has agreed to invest €30m in Ponroy Santé Group (“Ponroy”), a leader in the natural Consumer Healthcare industry in Europe. Cathay Capital will co-invest with 3i Group plc (“3i”), who committed to invest €150m in Ponroy. Cathay Capital’s minority investment will be implemented through the MidCap fund.

Ponroy was founded in 1975 and is headquartered in Boufféré, near Nantes, France. It manufactures and distributes a wide range of “natural healthcare and cosmetics products” from functional and natural food supplements (for stress control, energy and memory boosters, sleeping aids, slimming, probiotics, menopause etc.) to natural cosmetics and hygiene products for babies and women.

Since inception, Ponroy has grown year on year organically without interruption to reach more than €170m of revenues. Growth has accelerated over the last 4 years above 10% CAGR on revenues. The business is well positioned due to its multi-distribution channel strategy (hyper and super markets, pharmacies and drugstores, specialized diet retailers, mail order and online sales). It owns several well-known brands, including Biolane, Vitarmonyl, and Nutrisanté.

The company has 35% international sales in over 50 countries and is already present in Asia and particularly in China via the distribution of baby care products with the Biolane brand. Cathay Capital, through its investment and commitment of its team, aims to accelerate the development of Ponroy on the Chinese market, strategic for the future of company.

Hervé Descazeaux, Managing Partner of Cathay Capital Private Equity, declared: “This investment is a perfect example of Cathay’ positioning and its mission of usefulness between Europe and Asia. Our role alongside 3i and the management will be to support the international development of the company and its digital transformation, through our industry knowledge and local ecosystems. Cathay will contribute in particular to strengthen the physical distribution network and develop online sales in China through an optimized digital strategy. ”

The transaction is subject to customary and anti-trust approvals.